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Medicare’s Future: Current Picture, Trends, and Medicare Prescription Drug Improvement & ... - page 53 / 60

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Key Features of Medicare Prescription Drug Benefit

Voluntary benefit effective January 1, 2006

Rx benefit through regional stand-alone private Rx plans or HMOS or PPOs

$410 billion in federal government spending,  2004–2013

Annual premium in 2006 about $420—can vary by plan

Annual $250 deductible indexed to drug spending

Coverage gap (“donut hole”)—no coverage for spending between $2,250 and $5,100

Subsidies for low-income beneficiaries

Subsidies to employers to maintain retiree coverage

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